Tesla is naming Oracle’s Larry Ellison and an executive from Walgreens to its board as part of a settlement with U.S. regulators who demanded more oversight of CEO Elon Musk.
The company said Friday that Ellison and Kathleen Wilson-Thompson are the new independent directors, effective immediately.
Wilson-Thompson spent 17 years at Kellogg and is currently an executive with Walgreens Boots Alliance.
The SEC demanded more oversight of Tesla CEO Elon Musk, pictured a news conference in Tokyo September 8, 2014, after he got into hot water for announcing on Twitter that he would take the company private. (Toru Hanai/Reuters)
The Securities and Exchange Commission charged Tesla CEO Elon Musk with misleading investors in August with a tweet that said he had “funding secured” for taking the company private.
The appointment of two new board members is part of the agreement reached with the SEC.